Return filling
This query is : Resolved
05 September 2013
Dear sir,
my friend who is working jointly his father's business and does not have separate legal income. but he is an active investor in share market from the last 3 years.
now today the Notice of Income came : regarding [ transaction of 20k or more in shares for FY 2009-10 , ]
his total buy sell never reached more than 1 lac. and eventually he had a loss in share market .
that's why he didn't filled the income tax return .
now what he answers to the income tax officer ?
my friend who is working jointly his father's business and does not have separate legal income. but he is an active investor in share market from the last 3 years.
now today the Notice of Income came : regarding [ transaction of 20k or more in shares for FY 2009-10 , ]
his total buy sell never reached more than 1 lac. and eventually he had a loss in share market .
that's why he didn't filled the income tax return .
now what he answers to the income tax officer ?
05 September 2013
It looks like the AO has sent improper notice but you have to consult professional to represent your case better.
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